The euro rose by 0.98%, reaching 90.1 rubles on the Moscow Exchange on Monday.
The last time the euro was above 90 rubles in February 2016.
As of 13:15 Moscow time, the euro rate was at around 89.97 rubles (+0.83%), and the dollar rate grew by 0.92% to 76.13 rubles.
At the same time, the price of November futures contract for Brent crude oil on London’s ICE decreased by 1.78% to $41.9 per barrel. WTI crude was trading at $39.39 per barrel (-1.89%).
The euro added 1.56% and climbed to 88 rubles during the trading session on the Moscow Exchange on Friday, according to trading data.
The euro was at such level last time on March 30 of this year.
The euro decelerated later on to the increase by 1.13% and was traded at 87.63 rubles. The dollar rose by 1.6% to 74.34 rubles at the same time.
Brent oil futures prices with settlement in October 2020 dropped by 0492% to $43.04 a barrel on the London-based ICE today. The WTI oil was traded at $39.76 a barrel, down 0.4%.
A plunge in prices for Russia’s main export, crude oil, sent the ruble crashing to its weakest level since January, threatening to push the country’s already-shrinking economy deeper into recession.
Russia’s ruble eased as far as 71.65 to the U.S. dollar on Monday as concerns over the Chinese economy drove the price for Brent crude below $45 a barrel for the first time since March 2009. The ruble was trading around 36 to the dollar this time last year.
The Russian ruble has hit five-year lows against the Central Bank’s foreign currency basket of dollars and euros – a politically worrying trend for the Kremlin because of the accompanying rise in the cost of living.
As for March 13, it stands at 36.45 against the dollar and 50.80 against the euro, rates are even higher than in months of Russia’s 2008-2009 financial crisis; in February 2009 it was 35,81 against the dollar.
The growth since the beginning of January has been already more than 20%.
Picture shows the fluctuations of the Russian ruble since 1998 to March 2014.
Sources: www.bloomberg.com, www.dawn.com, www.cbr.ru